PRODUCT INNOVATION AND THE RATE OF PROFIT

• 中谷 武

• 萩原 泰治

抄録

Marx stated that the rate of profit tends to fall because of technical change. Okishio pointed out that Marx ignored the profitability criterion for the introduction of new technologies. He proved that the introduction of new technology, which yields a higher profit rate measured in terms of old equilibrium prices, raises the rate of profit under new equilibrium prices when the real wage basket is kept constant (the Okishio Theorem). In his argument, however, technical innovation was restricted to that of new production methods - i.e. process innovation - while the introduction of new products, namely product innovation, was not analyzed. For product innovation to be relevant in the history of technology, it is very important to know the eventual effects of this type of innovation on the rate of profit. In this paper, first we present the Okishio Theorem in its simplest form and summarize the controversies concerning this theorem. Next, we consider if the theorem holds when taking product innovation into account.

収録刊行物

• Kobe University Economic Review

  Kobe University Economic Review 43 39-51, 1997

  神戸大学大学院経済学研究科

詳細情報

• CRID: 1390853649859688320
• NII論文ID: 110005859484
• NII書誌ID: AA00261065
• DOI: 10.24546/81000911
• HANDLE: 20.500.14094/81000911
• ISSN: 04541111
• 本文言語コード: en
• データソース種別:
  • JaLC
  • IRDB
  • CiNii Articles
• 抄録ライセンスフラグ: 使用可